Refined Brands Limited
Registered name: REFINED BRANDS LIMITED
Refined Brands Limited made £37.6m revenue and a £1.1m loss in the year to 26 Jan 2025.
Refined Brands Limited’s revenue grew 1% to £37.6m in the year to 26 Jan 2025, with a loss of £1.1m and 233 employees. The company is classified under “activities of other holding companies” and is based in ST. Columb; we hold 3 years of its filed accounts.
- Status
- Active
- Location
- ST. Columb, South West
- Age
- 5 yrs · since 2021
- Type
- Private Limited Company
Pass-through vehicle. This looks like a holding, staffing or umbrella company. Its revenue and profit may largely pass through to or from other entities, so the figures may not reflect a standalone operating business. It is excluded from our opportunity lists.
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 29 Jan 2023 | 28 Jan 2024 | 26 Jan 2025 |
|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L |
| Profit & loss | |||
| Revenue (turnover) | £22.4m | £37.1m | £37.6m |
| Cost of sales | £12.2m | £17.5m | £18.2m |
| Gross profit | £10.1m | £19.5m | £19.4m |
| Operating profit | £227k | £2.9m | £2.2m |
| Profit after tax | −£267k | −£1.3m | −£1.1m |
| Profit (best available) | −£267k | −£1.3m | −£1.1m |
| Staff costs | £3.4m | £6.7m | £6.7m |
| Employees (average) | 147 | 249 | 233 |
| Ratios | |||
| Profit margin | −1.2% | −3.4% | −2.8% |
| Gross margin | 45.3% | 52.7% | 51.7% |
| Revenue per employee | £152k | £149k | £161k |
| Profit per employee | −£1.8k | −£5.1k | −£4.6k |
| Cash conversion | −519.7% | 55.2% | 164% |
| Growth (year on year) | |||
| Revenue growth | — | ▲65.8% | ▲1.3% |
| Headcount growth | — | ▲69.4% | ▼6.4% |
| Balance sheet — indirect signals, not revenue | |||
| Cash at bank | £856k | £702k | £4.3m |
| Net assets | £12.7m | £13.2m | £11.5m |
| Current assets | £1.6m | £1.6m | £4.4m |
| Deferred income | £6k | £76.5k | £52k |
| Cash from operations | −£1.2m | £1.6m | £3.6m |
| Source | Accounts · bulk data Oct 2024 | Accounts · bulk data Oct 2024 | FullAccounts · bulk data Oct 2025 |
How the business works
- Profit margin
- −2.8%
- Profit ÷ revenue.
- Gross margin
- 51.7%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £161k
- Revenue ÷ average employees.
- Profit per employee
- −£4.6k
- Profit ÷ average employees.
- Cash conversion
- 164%
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- —
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- 0.1%
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- —
- Money owed by customers. Low = customers pay quickly.
Balance-sheet signals
Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.
- Net assets
- ▼13%
- Now £11.5m
- Cash at bank
- ▲519%
- Now £4.3m
- Headcount
- ▼6%
- Now 233
- Deferred income
- ▼32%
- Now £52k
- Fixed assets
- —
- Now —
Deferred income is reported together with accruals in this filing (“accruals and deferred income”), so it is an approximate signal only.
Group structure
Subsidiaries (4)
- Kettlewell Colours LimitedRev. £8.7m · Profit £1m
- Turtle Doves Holdings LimitedRev. £0 · Profit £0
- Refined Brands Bidco LimitedFigures not disclosed
- Whitworth CS Holdings LtdRev. — · Profit −£3.7k
Minority corporate shareholders
- Siexec 8020 Limited 25–50%
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from FullAccounts for the year to 26 Jan 2025 (profit −£1.1m), from the Companies House accounts bulk data published Oct 2025. Spotted an error? Request a correction.
Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.